Figaros Pizza
Figaros Pizza offers a limited menu of pizza, calzones, and other food items under the "FIGARO'S" or "NICKN-WILLY'S" brands. Known for casual dining with a focus on quality and variety, it operates in the quick-service restaurant sector.
Figaros Pizza franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation of a Figaro's Pizza or Nick-N-Willy's franchised store ranges from approximately $86,500 to $549,000. This includes an initial payment of $0 to $61,500 that must be paid to the franchisor or its affiliates [p.1].
What is the initial franchise fee?
The initial franchise fee varies based on the type of franchise and additional factors. For a standard first franchise, it is $49,000 ($39,000 Initial Franchise Fee plus $10,000 Franchise Coordination Fee). This isn't specified in the excerpts for other types of franchises.
What are the ongoing royalty and advertising fees?
The ongoing fees include a reduced amount after initial deposit, but the exact amount is not specified in these excerpts. Additionally, there is an ongoing Branding Fee for advertising programs, though specific details about this fee are also not provided in the given excerpts. [p.199, p.147]
How long is the initial franchise agreement, and can I renew it?
The initial term of the franchise agreement is not specified in years but can be renewed for successive ten-year terms [p.133]. You have the right to renew your franchise before expiration of the initial term without paying a renewal fee, provided all conditions are met [p.133].
Can I sell or transfer my franchise, and what does that require?
According to the FDD, you can potentially sell or transfer your franchise, but it requires approval from the franchisor. The franchisor can refuse to permit a transfer for good cause, which is defined broadly [p.244]. Additionally, upon transfer or renewal of your franchise, you may need to sign specific agreements such as the Transfer Agreement and Release or the Renewal Agreement and Release [p.84].
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the agreement on any grounds available by law [p.247]. Additionally, the franchisor can terminate a franchise prior to expiration for good cause, such as the failure of the franchisee to comply with lawful provisions of the Franchise Agreement and failing to cure such failure after receiving written notice and a reasonable opportunity to do so [p.244(c)].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
The franchise agreement does not provide you with an exclusive territory, and you may face competition from other franchisees, outlets owned by the company, or other competitive brands [p.240]. However, if you purchase a Figaro's or Nick-N-Willy's franchise, you will have protection within your designated area during the term of the agreement [p.47]. Additionally, you have the right of first refusal to open additional stores in the designated territory [p.51], but this does not guarantee an exclusive territory for each store.
What training and ongoing support does the franchisor provide?
The franchisor provides basic training courses or substitute onsite training appropriate to the knowledge and experience base of the franchisee [p.180]. Additionally, the franchisor is responsible for providing ongoing training, quality control, and field support services, which may be delegated to Area Representative franchisees [p.36, p.144, p.64]. This includes pre-opening assistance and initial and ongoing training and site acquisition services and inspections [p.64].
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
Yes, the franchisor shares historical average gross revenues for domestic individual unit Figaro's stores that have been open for at least one year as of December 31, 2024. This information is provided based on weekly reports of 'gross revenue' (total sales minus certain deductions) from franchisees and includes data from all relevant stores without any financial performance information from other types of franchises or newer stores that hadn't been open for a full year [p.76-78].
What am I restricted to selling, and where must I buy supplies?
You are restricted to offering items such as equipment, merchandise, and supplies that bear the franchisor's marks only at the Franchised Store to retail customers. Additionally, you may have to purchase or lease certain items from the franchisor or a limited group of suppliers designated by them, which might be more expensive than purchasing from other sources [p.3].